District of Columbia Changes Taxation of Municipal Bond Interest, Again

DC flag

In 2011 the District of Columbia (DC) enacted legislation to tax individual’s, estate’s and trust’s interest income from municipal bonds, with the exception of DC bonds. In June 2012, DC delayed the tax provision to 2013 and only taxed bonds purchased after January 1, 2013.  This month DC has enacted legislation repealing the taxation of income from state and municipal bonds for individuals, estates and trusts.

Keeping up with the ever changing state tax laws is a difficult process for taxpayers.  The SALT Group at KatzAbosch has specialists that know the latest rules and can help business clients comply with the tax laws and regulations and minimize their tax obligations.  Please contact the KatzAbosch SALT Group if you have any questions regarding SALT issues: phone: 410-828-2727, or email: abareham@katzabosch.com

Prepared by Andy Bareham, Chair of the KatzAbosch SALT Group

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